South Florida’s High-End Properties In High Demand

South Florida High-end PropertiesThis excellent story by Miami Herald: The Rich Niche: South Florida’s High-End Properties In High Demand – Breaking News – MiamiHerald.com., offers good insights on what is really happening in our lovely South East Florida. Before I share it with you all, I would like to include the following “Points To Ponder”:

Where do the affluent buyers shift their attention to?

The scene: Luxury Real Estate, SE Florida- Sunny Isles, Miami Beach, Down Town Miami.

The players: Europe, South America, US, Israel, Russia.

The circumstances: Europe’s Political and economic tensions not only push up U.S. bond prices, but also boost the US real estate markets, as some of its most affluent residents start looking for stability and comfort elsewhere. Political instability in South America, has always been the driving force out for some of these countries’ investors. General disappointment and loss of confidence in the stock market was the determining factor for the local luxury buyer. Israel has a technologically advanced market economy and although the global financial crisis of 2008-09 spurred a brief recession in Israel, the economy has recovered better than most advanced, comparably sized economies, thus producing a number of substantial investors. Russia: as the number of Russian billionaires almost doubled over the last year to 101, (reported by Forbes), our sunny coast plays host to some.

The results:Luxury homes in SE Florida are selling for nearly what they were at the peak, even if the market as a whole remains in the dumps. 

The article below is one of the many articles in the last 6 months or so, attesting to the fast recovery in SE Florida’s real estate. It offers truthful reports and statistical figures making two points: the luxury market in SE Florida not only remains the most resilient market, but continues to grow, and second, it creates an “after effect”, that influences positively many other segments of the local market, causing them to recover faster. With that said, why I wonder, so many people are still waiting for our local market to bottom out???

Read more here: http://www.miamiherald.com/2012/05/05/2785509_p3/the-rich-niche-south-floridas.html#storylink=cpy

For accurate real estate reports, services and helping you find your real estate deal, contact:

Kate Smith, Realtor®, ABR, CRS, CLHMS, CDPE, E-Pro, SFR, TRC
Luxury Residential, Commercial and Distressed Properties Specialist
Direct: 786.412.8510
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